Tag Archives: #GOPTaxScam

“Corporations zeroing out their tax bills or paying single-digit federal tax rates mean a substantial loss in federal revenue. Calls to cut critical programs and services in the wake of these corporate tax cuts are absolutely connected.”

A new analysis out Thursday shows that tax policy under the Trump administration is benefitting large corporations to such a degree that twice as many large companies will pay nothing in federal taxes for 2018 compared to previous years.

The report by the Institute on Taxation and Economic Policy, which comes less than a week before tax day in the United States on April 15, found that 60 companies—including Amazon, Netflix, Activision Blizzard, General Motors, and IBM—used “a diverse array of legal tax breaks” to bring their federal tax liability to zero. Continue reading →

Concerned economic and political commentators decried Moore as “a famous idiot” who “has proved deeply impervious to facts.”

President Donald Trump said Friday he will nominate right-wing commentator Stephen Moore to the Federal Reserve board. (Photo: CBN)

Economists and progressive experts responded with exasperation and unease on Friday after President Donald Trump said he will nominate right-wing commentator Stephen Moore to the Federal Reserve, the gatekeeper of the nation’s economy.

“I will be nominating Mr. Moore for the Fed. You know who I’m talking about,” Trump told reporters while arriving in Florida for the weekend. “He’s going to be great on the Fed.” Continue reading →

A member of the Porcupine caribou herd, which conservation groups say would be horribly impacted if fossil fuel exploration and extraction takes place in ANWR’s coastal plain. New legislation sponsored by Rep. Jared Huffman (D-Calif.) aims to make sure that doesn’t happen. (Photo: G MacRae/flickr/cc)

Conservation groups are cheering the introduction on Monday of a measure to stop fossil fuel extraction in a section of the Arctic National Wildlife Refuge (ANWR).

“This bill calls a halt to the administration’s headlong rush to sell off this special wilderness to corporate polluters,” said John Bowman, senior director for federal affairs at the Natural Resources Defense Council. “And it preserves the fundamental human rights of the Gwich’in people whom these lands have sustained for thousands of years, and who—among two-thirds of all Americans—oppose drilling in the Arctic Refuge.”

“The GOP Tax Scam was always about making the wealthy and big corporations richer while leaving millions of working families behind.”

A poll released Monday confirmed that corporations’ financial windfall following the passage of the Republican tax plan in 2017 did not lead to corporate investment in jobs and raises. (Photo: @zacjanderson/Twitter)

The release of a new survey on Monday confirmed that corporations used the $1.5 trillion giveaway in the Republicans’ 2017 tax plan for their shareholders and top executives—not their workers or reinvesting in their businesses.

The National Association of Business Economics’ (NABE) quarterly poll found that 84 percent of companies were not ramping up spending in the form of hiring, raises, and other capital investments. Continue reading →

“This is yet another shameful tax law that would swindle working families and siphon even more funding from the programs that help our communities thrive.”

“In less than a year, House Republicans have handed out trillions of tax cuts for the wealthy and big corporations,” added Rep. Richard Neal (D-Mass.), ranking member of the House Ways and Means Committee. (Photo: Tax March)

With the nation’s attention rightly transfixed by the Senate GOP’s monstrous efforts to ram through a Supreme Court nominee who has been credibly accused by multiple women of sexual assault, House Republicans on Friday voted overwhelmingly to approve another $3 trillion in tax cuts for the wealthiest Americans just weeks before the November midterms.

“Today the GOP doubled down on last year’s giveaway to the donor class known as the Tax Cuts and Jobs Act,” Morris Pearl, chair of the Patriotic Millionaires, said in a statement following the 220-191 vote. “Tax Cuts 2.0 gives nearly $3 trillion to the wealthiest Americans, and will become yet another excuse for Republicans to slash Medicare and Social Security.”

“Trump wants to send another kiss to the rich—unilaterally, without any approval from Congress. He ignores the law, governs for the top one percent, and doesn’t give a hoot about the rest of us.”

“Hours after cheating millions of middle class workers, Trump wants to send another kiss to the rich—unilaterally, without any approval from Congress,” Rep. Bill Pascrell (D-N.J.) wrote on Twitter late Thursday. (Photo: Timothy Krause/cc/flickr)

“There are a lot of people that love it and some people that don’t,” Trump said of the plan, which would disproportionately reward the top 0.01 percent of Americans. “But I’m thinking about it very strongly.” Continue reading →

The Congressional Progressive Caucus’ plan “invests in our neglected infrastructure, ends the systematic inequality in our tax system by making corporations pay their fair share, and stops the rising cost of drugs.”

“The People’s Budget embodies that new vision by investing in the interests of the people over the interests of the arms industry and the billionaire class,” Paul Kawika Martin, senior director for policy and political affairs at Peace Action, noted in a statement on Tuesday. (Photo: Congressional Progressive Caucus)

Offering an ambitious alternative to the House GOP’s “morally bankrupt” 2019 budget proposal—which demands over $5 trillion in cuts to Social Security, Medicaid, and other life-saving programs—the Congressional Progressive Caucus (CPC) on Tuesday unveiled a budget that calls for massive investments in infrastructure, healthcare, and education while proposing significant cuts to the completely “out-of-control” Pentagon budget.

“This is just another attempt by Paul Ryan to pretend that the biggest problem with the federal deficit is lazy poor people, not the $1.5 trillion tax cut he and his colleagues just gave to the richest people in the country.”

With the Poor People’s Campaign protesting “policy violence against families and children” outside the Capitol Building, House Republicans on Thursday forced through a “shameful” and “cruel” Farm Bill that would deprive about 2 million Americans of the Supplemental Nutrition Assistance Program (SNAP), often called food stamps.

“It’s a deliberate slap in the face to the millions of low-income Americans who rely on SNAP benefits to survive,” declared Morris Pearl, chair of Patriotic Millionaires. “We don’t want to live in a country where the government allows its citizens to starve, and neither should anyone else.” Continue reading →

The Republican budget’s “extreme cuts to healthcare, retirement security, anti-poverty programs, education, infrastructure, and other critical investments are real and will inflict serious harm on American families.”

With the nation’s attention rightly fixated on President Donald Trump’s horrific treatment of immigrant children, House Republicans on Tuesday quietly unveiled their 2019 budget proposal that calls for $537 billion in cuts to Medicare, $1.5 trillion in cuts to Medicaid, and four billion in cuts to Social Security over the next decade in an effort to pay for their deficit-exploding tax cuts for the wealthy.

“It’s morally bankrupt, patently absurd, and grossly un-American,” the advocacy group Patriotic Millionaires said of the GOP’s budget proposal, which calls for $5.4 trillion in spending cuts from major domestic programs. Continue reading →

New letter warns of conservatives seeing “an excuse for still deeper cuts” to social safety net

A woman holds a sign at a protest of the “Trump tax scam” on Dec.4, 2017. (Photo: CDEL Family/flickr/cc)

With President Donald Trump and fellow Republicans eyeing a second round of tax cuts—with a rollout possible this summer—130 organizations are urging members of Congress to reject them, because, like the first round, they will “primarily enrich the already wealthy” while threatening even deeper cuts to essential services.

“The richest Americans do not need another massive tax cut,” the letter from national groups including the AFL-CIO, Americans for Tax Fairness, Friends of the Earth, the National Education Association, and Patriotic Millionaires states. Continue reading →